Word: tinto
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When a group of 15 executives from multinational mining companies met with Wen Jiabao, China's Premier-designate, in late 2001, they hoped to be getting face time with a kindred spirit. The execs, among them heavyweight representatives of giant mine operators such as Rio Tinto and BHP Billiton, wanted to discuss the opening of China's mineral-extraction market to foreign investment. Wen, a geologist by training, was in a position to make a difference as the country's Vice Premier. As everybody sipped green tea in a meeting room at Zhongnanhai, the Beijing leadership compound, Wen listened politely...
Visitors leave Bingham Canyon awestruck at the historic feat of engineering that dug such a deep pit. Environmentalists may see only the hole that humanity has dug for itself. Rio Tinto hopes that future generations will look west from their Sunrise homes and see the remnants of an old, strategically vital industry reshaped by new sensibilities and needs...
That Kennecott can moonlight as a land developer is an extreme example of how new pressures affect the mining business. While analysts uniformly laud Rio Tinto as the standard-bearer for industry responsibility, that's not a standard others agree with. "The corporate poster child for environmental and social abuses" is the way Joshua Karliner of Corp Watch describes Rio Tinto's global activities...
Oscar Groeneveld, CEO of Rio Tinto Copper, defends the company's global progress but says, "We haven't got it 100% right yet. I think we'll be working for a long time before we satisfy the majority of our critics...
...Nevada, where Rio holds a 40% stake in a mine operated and 60% owned by Placer Dome, the Environmental Protection Agency is concerned about groundwater contamination from current mines and the potential for future damage to sacred lands of the Western Shoshone. In Salt Lake Valley, Rio Tinto has paid some $300 million in reclamation costs and is not finished. A 72-sq.-mi. plume of toxins, one of the world's largest, has rendered water from an aquifer beneath Salt Lake City undrinkable. Engineers must halt its spread and prevent public exposure...